Financing ·
Wabtec prices $500M of 5.9% senior notes due 2037 to refinance maturing debt
WABWestinghouse Air Brake Technologies Corp
Westinghouse Air Brake Technologies Corporation completed a public offering and sale of $500,000,000 aggregate principal amount of its 5.900% Senior Notes due February 25, 2037. The notes bear interest payable semi-annually on February 25 and August 25, commencing in February 2027. Wabtec intends to use the net proceeds from this offering, combined with borrowings under revolving credit facilities and commercial paper programs, to repay its outstanding 3.45% Senior Notes due November 15, 2026. The notes are senior unsecured obligations guaranteed by certain subsidiaries and include customary covenants limiting secured debt and sale-leaseback transactions. Wabtec manufactures and services rail transportation equipment.